Section 52
Investment of surplus moneys.
The New Delhi Municipal Council Act, 1994
About this Act
An Act to provide for the establishment of the New Delhi Municipal Council and for matters connected therewith or incidental thereto.
(1) Surplus money standing at the credit of General Account of
the New Delhi Municipal Fund which cannot immediately be applied for the purposes specified in
section 50 shall be deposited in the State Bank of India or in such scheduled bank or banks as the Council
may select or be invested in public securities
(2) The loss, if any, arising from such deposit or investment shall be debited to the General Account of the New Delhi Municipal Fund.
(2) The loss, if any, arising from such deposit or investment shall be debited to the General Account of the New Delhi Municipal Fund.